Startup profile · funding coverage
Fundamental funding, valuation and investors
Foundation-model startup creating NEXUS, a deterministic large tabular model for enterprise structured data.
Verified company research · funding, investors and latest developments
Keep track of Fundamental
Save this profile to your VCT watchlist for a quick return.
Funding, valuation & investors
Answer-first snapshotLatest funding
Series A
$225M · February 5, 2026
Latest known valuation
Reported ~ $1.4B post-money (TechCrunch); other valuations differ
Series A · February 5, 2026
Total disclosed equity funding
$255M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
series a · San Francisco, California, United States
Investors in latest funding
Lead: Oak HC/FT
Other: Valor Equity Partners , Battery Ventures , Salesforce Ventures , Hetz Ventures
Overview
Fundamental was founded in October 2024 by Jeremy Fraenkel and colleagues to build NEXUS, a non-transformer Large Tabular Model (LTM) that models structured enterprise data. On February 5, 2026 it announced $255M in total funding: a previously completed $30M seed and a $225M Series A led by Oak HC/FT, with Valor Equity Partners, Battery Ventures, Salesforce Ventures and Hetz Ventures participating.
TechCrunch described the financing as implying a $1.4B post-money valuation, while other reporting used a $1.2B valuation figure with unclear basis. VCT stores no precise canonical valuation without settling that discrepancy.
Why Fundamental is interesting
A commercial non-LLM architecture bet: $30M seed plus $225M Series A, with reported enterprise demand. NEXUS is built for tabular prediction rather than parallel text generation.
Product & use cases
NEXUS Large Tabular Model for prediction and forecasting from enterprise database tables, deployed in partnership with AWS and business customers.
- Revenue and customer-churn prediction
- Structured financial and operational risk analysis
- Large-scale enterprise tabular forecasting
Key facts
- $255M total funding disclosed Feb 5, 2026: $30M seed plus $225M Series A
- Oak HC/FT led Series A; AWS distribution partnership
- NEXUS is a tabular foundation model, not a text generation replacement
Funding history (newest first)
Series A
2026-02-05 $225M Valuation: Reported ~ $1.4B post-money (TechCrunch); other valuations differ- Oak HC/FT (lead)
- Valor Equity Partners (participant)
- Battery Ventures (participant)
- Salesforce Ventures (participant)
- Hetz Ventures (participant)
Seed
2024 (month unconfirmed) $30M (announced retrospectively Feb 5, 2026)- Hetz Ventures (participant)
Competitive landscape
Edge: Architecture tailored to rows, columns and multi-feature enterprise data where conversational LLMs can be poorly matched to the task.
Commercial architecture is a model optimized for nonlinguistic structured data, not an NCM or diffusion alternative. Disclosed funding totals combine separate seed and Series A rounds, not one $255M Series A.
Market / IPO context
Editorial / static context — not a live quote.
FAQs about Fundamental
Practical answers founders, operators, and investors typically search for.
Last updated:
Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.